Prevail Innovative Wealth Advisors LLC Purchases Shares of 177,523 Golden Ocean Group Limited (NASDAQ:GOGL)

Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 177,523 shares of the shipping company’s stock, valued at approximately $1,591,000. Prevail Innovative Wealth Advisors LLC owned 0.09% of Golden Ocean Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GOGL. Intech Investment Management LLC bought a new position in Golden Ocean Group during the 3rd quarter worth $477,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Golden Ocean Group by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 319,539 shares of the shipping company’s stock worth $4,275,000 after acquiring an additional 29,051 shares during the period. FMR LLC lifted its stake in shares of Golden Ocean Group by 146.8% in the third quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after acquiring an additional 7,263 shares during the period. BNP Paribas Financial Markets boosted its holdings in Golden Ocean Group by 16.6% in the third quarter. BNP Paribas Financial Markets now owns 123,048 shares of the shipping company’s stock valued at $1,646,000 after acquiring an additional 17,553 shares during the last quarter. Finally, PDT Partners LLC increased its position in Golden Ocean Group by 2.7% during the 3rd quarter. PDT Partners LLC now owns 305,470 shares of the shipping company’s stock valued at $4,084,000 after purchasing an additional 8,001 shares during the period. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

Shares of GOGL opened at $8.36 on Friday. The firm has a market cap of $1.67 billion, a PE ratio of 6.91 and a beta of 1.14. Golden Ocean Group Limited has a 52-week low of $7.49 and a 52-week high of $15.77. The business’s 50 day moving average price is $8.86 and its two-hundred day moving average price is $10.09. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio is presently 53.57%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a research report on Wednesday, February 26th.

Golden Ocean Group Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.